Tata Steel starts export of Ferroshots from Kalinganagar steel plant

The product has garnered a lot of interest within a few months of its launch, from the steel industry which has traditionally used pig iron, sponge iron and scrap.Rakhi Majumdar | ET Bureau | August 24, 2016, 19:00 IST

KOLKATA: Tata Steel has initiated exports of Tata Ferroshots from its new steel plant located in Kalinganagar in Odisha. The first export consignment was flagged off from the plant to a South East Asian country on Tuesday. A new product launched by Tata Steel from its plant at Kalinganagar in March this year, Tata Ferroshots mainly consists of granulated pig iron solidified by cooling in water.

The product has garnered a lot of interest within a few months of its launch, from the steel industry which has traditionally used pig iron, sponge iron and scrap, a Tata Steel statement said. Tata Ferroshots is used in electric arc furnaces, induction furnaces, cupolas, basic oxygen furnaces and foundries as a replacement of pig iron, scrap or direct reduced iron (DRI). Its inherent properties lead to better yield, higher productivity and lower energy cost, while its manufacturing process is safe and environment friendly.

The product received good response in the domestic market, following which it is set to make its foray into export market. Rajiv Kumar, vice president (Operation) of Tata Steel Kalinganagar Plant flagged off the first export consignment.

Tata Steel, which is setting up a six million tonne per annum (mtpa) integrated steel plant at Kalinganagar in two phases has implemented the first phase of 3 mtpa at an investment of Rs 25,000 crore. One of the few greenfield integrated steel plants to come up in the country in the past few years, the plant started commercial production in May 2016.

Currently, the Goods and Services Tax (GST) is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued at the time of sale.